NSW Small Business Fees and Charges Rebate upgrade

Expansion of Small Business Fees and Charges Rebate

As part of the Economic Recovery Strategy, the NSW Government has:

announced that the small business fees and charges rebate will increase from $1,500 to $2,000 added road user tolls for business vehicles as an eligible fee for businesses to claim as part of the rebate

The […]

Action required: Reduce your 2021 tax

The end of financial year is approaching quickly

Now is the time to discuss with us the actions you can take before 30 June 2021 to reduce your tax and access additional cash flow.

For 2021, key priorities are likely to include:

Deferring taxable income Bringing forward deductible expenses Maximising superannuation contributions without exceeding the […]

2020 Tax planning

Reduce your 2020 tax

With the end of financial year approaching quickly, now is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and access additional cash flow.

For 2020, key priorities are likely to include:

Maximise Federal and State Government Stimulus Payments Deferring […]

Fringe Benefits Tax 2020

What every employer needs to know about fringe benefits

On 31 March 2020, the Fringe Benefits Tax (FBT) year ends. With the ever-increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount.

To help you meet your fringe benefits obligations, […]

Increased fuel tax credit rates

Fuel tax credit rates increased on 3 February

Fuel tax credit rates change regularly. They are indexed twice a year, in February and August, in line with the consumer price index (CPI).

Rates may also change in July for fuel used in a heavy vehicle for travelling on public roads. This is due to changes […]

Fuel tax guidance amended for bus operators

Fuel tax credits for fuel use in vehicles on public roads

The ATO has amended its guidance on fuel tax credit claims for business taxpayers who acquire the fuel for use in a vehicle travelling on a public road.

The amount of credit for taxable fuel that is acquired to use in a […]

Fuel up with BP and Xero Connect

Hitting the road?

Xero now integrates with BP Plus Fuel Card in Australia, keeping small businesses on the road without the headache of holding onto physical receipts.

BP has partnered with Xero Connect in Australia to enable business customers to automate the entry of monthly invoices related to fuel expenses into Xero. This solution […]

Indicators of itinerant workers

Bonafide ‘mobile’ work can open up more deductions

Digital capabilities, a growing “gig economy” and the changing nature of employment means that many Australians are becoming more mobile in their income-earning activities, or in some circumstances practically nomadic chasing work.

With the ATO on the lookout for “red flags” for taxpayers making false work travel […]

Lifestyle assets under ATO watch

Lifestyle assets data matching program protocol

The ATO is conducting a lifestyle assets data matching program to obtain information on insurance policies for marine vessels, enthusiast motor vehicles, thoroughbred races horse, fine art and aircraft.

The ATO will obtain information from data providers for the 2013/14 and 2014/15 financial years, to identify taxpayers who are […]

Claiming car expenses

Common car expense claim questions answered

As a taxpayer, if you use your own car for work purposes, you can claim a tax deduction using one of two methods — the cents per kilometre method or the logbook method.

If you use someone else’s car for work purposes, you can only claim for direct costs […]